Feb 02 – In an earnings call on Tuesday, CEO of Google and its parent company Alphabet, Sundar Pichai, acknowledged the role that cloud, cloud security, and blockchain will play in the tech giant’s future growth.
Cloud, blockchain and Web3
Have you heard about Web3? The term represents a vision for an upgraded internet that would be based on blockchain, a decentralized, secure and popular technology that underpins cryptocurrency networks, non-fungible tokens (NFTs) and other digital platforms.
“On Web3, we are definitely looking at blockchain,” said Pichai, describing the technology as interesting, powerful and full of broad applications.
“As a company, we are looking at how we might contribute to the ecosystem and add value,” Pichai explained, adding “One example, our Cloud team is looking at how they can support our customers’ needs in building, transacting, storing value and deploying new products on blockchain-based platforms.”
Blockchain and cloud security
Google’s revenue from cloud is growing. The company’s cloud division, which mainly offers cloud solutions for businesses, increased profits by 44% since last year. In light of the company’s burgeoning cloud business, Google recently acquired Siemplify, a leading security orchestration, automation and response (SOAR) provider.
But Google isn’t the only enterprise interested in capturing cloud growth. Check Point Software recently announced the acquisition of Spectral, a startup that offers developer-centric security tools for cloud and traditional applications.
Because organizations have expressed interest in moving from normal static storage to blockchain, experts predict an increased demand for cloud computing.
Bullish on blockchain
As blockchain gains momentum, and as Google continues to build business around blockchain applications, the company may move away from advertising. “Blockchain technology is yielding tremendous innovation and bvalue creation for consumers and businesses around the world,” Google stated in a January blog post.
“As the technology becomes more mainstream, companies need scalable, secure and sustainable infrastructure on which to grow their businesses and support their networks. We believe Google Cloud can play an important role in this evolution.”
Blockchain is poised to change how businesses interact with one another, and how businesses move and store information.
Would you like to learn more about blockchain? See CyberTalk.org’s past coverage.